Ntagali urges president to veto Islamic banking bill

 

Ntagali urges president to veto Islamic banking bill

Author: 

George Conger

The Archbishop of Uganda has presented a petition from the country’s Christian leaders to President Yoweri Museveni urging him to veto a bill passed by Parliament authorizing Islamic banking in the East African nation. In letter dated 14 Jan  2016, the church leaders, led by Archbishop Stanley Ntagali, who also serves as president of the Uganda Joint Christian Council warned that giving Shariah law a legal foothold through amendments to the Financial Institutions Bill 2015 was the thin end of the wedge and would have “far-reaching implications beyond the suggested purpose of finance." Parliament adopted the bill on 6 Jan 2016 permitting Islamic banking, and it is currently awaiting the president’s signature to become law. However, Christian leaders said they viewed the “passing of this bill as one of the most serious threats to national security and stability with potential threats to future generations as well." They wrote: “"We regret to note that the introduction of Sharia law in the country opens door to the ultimate operationalisation of fully-fledged Sharia not only in the finance sector as contained in the bill but in all aspects of our national life," and would create “two parallel financial and economic systems for the population of Uganda; for the Muslims, in conformance to the Sharia law, and the non-Muslims. This will promote economic discrimination, and will widen the already-existing income inequalities in the population." They further stated: "Since in this bill the central Bank seeks to establish a separate regulatory body to oversee Islamic banking, there will be a serious challenge to harmonize this kind of banking with the traditional banking system. This is because Islamic banking will be run on Sharia law which is hinged on unique legal principles which are in many ways contrary to Uganda's constitution.”

 
Categories: 
Provinces: